Bitcoin plummetted below $7,000 USD for the first time since April 2018.
The drop occurred shortly after South Korean exchange Coinrail announced a "Cyber intrusion" in their system.
Coinrail claims to have frozen exposed NPER, ATX, and NPXS coins, and that other cryptocurrencies are now safely secured in cold storage.
Their website provides no additional information.
Other major cryptocurrencies followed Bitcoin's drop including Ethereum, Litecoin, Ripple, Bitcoin Cash, EOS, and Monero.
This is relatively insignificant compared to other prominent exchanges.
The Coinrail hack is not the only news influencing market prices.
According to WSJ, the US Commodity Futures Trading Commission launched a probe into four major crypto exchanges.
Investigators requested data to uncover price manipulation and the associated news may also be responsible for the market volatility.
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Bitcoin Dives Below $7,000 Support Level Following Korean Exchange Hack
Published on Jun 11, 2018
by Cryptoslate | Published on Coinage
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